0001085146-11-000626.txt : 20110516
0001085146-11-000626.hdr.sgml : 20110516
20110513194702
ACCESSION NUMBER: 0001085146-11-000626
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110331
FILED AS OF DATE: 20110516
DATE AS OF CHANGE: 20110513
EFFECTIVENESS DATE: 20110516
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: OSTERWEIS CAPITAL MANAGEMENT INC
CENTRAL INDEX KEY: 0001007524
IRS NUMBER: 942871718
STATE OF INCORPORATION: CA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-04483
FILM NUMBER: 11843031
BUSINESS ADDRESS:
STREET 1: ONE MARITIME PLAZA
STREET 2: STE 2101
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94111
BUSINESS PHONE: 4154344441
MAIL ADDRESS:
STREET 1: ONE MARITIME PLAZA
STREET 2: STE 1201
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94111
13F-HR
1
ostm1q2011.txt
OSTERWEIS CAPITAL MANAGEMENT INC
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2011
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Osterweis Capital Management, Inc.
Address: One Maritime Plaza, Suite 800
San Francisco, CA 94111
13F File Number: 028-04483
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: John Tavernetti
Title: Chief Compliance Officer
Phone: 415-434-4441
Signature, Place, and Date of Signing:
/s/ John Tavernetti San Francisco, CA May 12, 2011
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 139
Form 13F Information Table Value Total: $3,460,332 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filed, other
than the manager filing this report.
No. 13F File Number Name
01 028-06550 Osterweis Capital Management, LLC.
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ABBOTT LABS COM 002824100 270 5500 SH OTHER 01 5500 0 0
ABBOTT LABS COM 002824100 95 1935 SH OTHER 1935 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 50657 1131235 SH OTHER 1127520 0 3715
AGILENT TECHNOLOGIES INC COM 00846U101 59288 1323971 SH OTHER 01 1321171 0 1400
ALERE INC NOTE 3.000% 5/1 01449JAA3 5062 4490000 PRN OTHER 01 4490000 0 0
AMERICAN EXPRESS CO COM 025816109 263 5825 SH SOLE 5825 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 46770 1667400 SH OTHER 01 1659470 0 7930
AMERICAN WTR WKS CO INC NEW COM 030420103 46700 1664870 SH OTHER 1659885 0 4985
APACHE CORP COM 037411105 57643 440290 SH OTHER 439120 0 1170
APACHE CORP COM 037411105 51163 390796 SH OTHER 01 389816 0 980
APACHE CORP PFD CONV SER D 037411808 6377 90000 PRN OTHER 01 90000 0 0
APPLE INC COM 037833100 481 1379 SH OTHER 01 1379 0 0
AVERY DENNISON CORP COM 053611109 46784 1114955 SH OTHER 1112025 0 2930
AVERY DENNISON CORP COM 053611109 39845 949585 SH OTHER 01 946780 0 2805
AVNET INC COM 053807103 35198 1032513 SH OTHER 1029383 0 3130
AVNET INC COM 053807103 36462 1069590 SH OTHER 01 1069590 0 0
BARRETT BILL CORP NOTE 5.000% 3/1 06846NAA2 1991 1950000 PRN OTHER 01 1950000 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 125 1 SH OTHER 01 0 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 501 4 SH OTHER 4 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 215 2564 SH OTHER 01 1264 0 50
BRISTOL MYERS SQUIBB CO COM 110122108 287 10867 SH OTHER 10867 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 210 7949 SH OTHER 01 7949 0 0
CA INC COM 12673P105 34805 1439415 SH OTHER 1435345 0 4070
CA INC COM 12673P105 33595 1389370 SH OTHER 01 1384065 0 5305
CENTRAL EUROPEAN DIST CORP NOTE 3.000% 3/1 153435AA0 29320 33750000 PRN OTHER 01 33750000 0 0
CHARMING SHOPPES INC NOTE 1.125% 5/0 161133AE3 11162 12941000 PRN OTHER 01 12941000 0 0
CHEVRON CORP NEW COM 166764100 218 2025 SH OTHER 01 2025 0 0
CHEVRON CORP NEW COM 166764100 53 490 SH OTHER 490 0 0
CITIGROUP INC COM 172967101 48642 11004920 SH OTHER 10974400 0 30520
CITIGROUP INC COM 172967101 39102 8846615 SH OTHER 01 8821960 0 24655
COCA COLA CO COM 191216100 27 405 SH OTHER 405 0 0
COCA COLA CO COM 191216100 222 3345 SH OTHER 01 3345 0 0
COMPUTER SCIENCES CORP COM 205363104 45493 933570 SH OTHER 01 932630 0 0
COMPUTER SCIENCES CORP COM 205363104 48034 985715 SH OTHER 982815 0 2900
COMPUWARE CORP COM 205638109 53566 4637810 SH OTHER 01 4615140 0 14670
COMPUWARE CORP COM 205638109 56651 4904878 SH OTHER 4891128 0 13750
COMTECH TELECOMMUNICATIONS C NOTE 3.000% 5/0 205826AF7 4145 4000000 PRN OTHER 01 4000000 0 0
CROWN HOLDINGS INC COM 228368106 67425 1747664 SH OTHER 1742314 0 5350
CROWN HOLDINGS INC COM 228368106 64064 1660550 SH OTHER 01 1659745 0 805
DEVON ENERGY CORP NEW COM 25179M103 324 3534 SH OTHER 01 3534 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 40585 532476 SH OTHER 01 532476 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 35036 459669 SH OTHER 458069 0 1600
DIGITALGLOBE INC COM NEW 25389M877 30869 1101295 SH OTHER 1097175 0 4120
DIGITALGLOBE INC COM NEW 25389M877 35367 1261761 SH OTHER 01 1261761 0 0
DRYSHIPS INC. NOTE 5.000%12/0 262498AB4 2503 2500000 PRN OTHER 01 2500000 0 0
DURECT CORP COM 266605104 411 114156 SH OTHER 114156 0 0
DURECT CORP COM 266605104 978 271500 SH OTHER 01 3500 0 268000
ENTERPRISE PRODS PARTNERS L COM 293792107 49893 1158688 SH OTHER 1156288 0 2400
ENTERPRISE PRODS PARTNERS L COM 293792107 20001 464505 SH OTHER 01 450375 0 14130
EURONET WORLDWIDE INC NOTE 3.500%10/1 298736AF6 8844 8900000 PRN OTHER 01 8900000 0 0
EXXON MOBIL CORP COM 30231G102 935 11117 SH OTHER 11117 0 0
EXXON MOBIL CORP COM 30231G102 1185 14076 SH OTHER 01 14076 0 0
F M C CORP COM NEW 302491303 294 3455 SH OTHER 01 1775 0 1680
FIRST REP BK SAN FRAN CALI N COM 33616C100 24003 776545 SH OTHER 774220 0 2325
FIRST REP BK SAN FRAN CALI N COM 33616C100 26480 856665 SH OTHER 01 856665 0 0
GENCORP INC SDCV 4.062%12/3 368682AN0 5479 5500000 PRN OTHER 01 5500000 0 0
GENERAL ELECTRIC CO COM 369604103 150 7505 SH OTHER 7505 0 0
GENERAL ELECTRIC CO COM 369604103 258 12862 SH OTHER 01 6307 0 6555
GEN-PROBE INC NEW COM 36866T103 50069 754615 SH OTHER 01 750580 0 4035
GEN-PROBE INC NEW COM 36866T103 40614 612125 SH OTHER 609980 0 2145
HEALTHSOUTH CORP COM NEW 421924309 36738 1470692 SH OTHER 01 1470692 0 0
HEALTHSOUTH CORP COM NEW 421924309 41191 1648969 SH SOLE 1646744 0 2225
HEWLETT PACKARD CO COM 428236103 39442 962705 SH OTHER 959920 0 2785
HEWLETT PACKARD CO COM 428236103 36168 882799 SH OTHER 01 879374 0 3425
HOLOGIC INC FRNT 2.000%12/1 436440AA9 68 70000 PRN OTHER 70000 0 0
HOLOGIC INC FRNT 2.000%12/1 436440AA9 3889 4030000 PRN OTHER 01 4030000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 663 4070 SH OTHER 01 4070 0 0
JOHNSON & JOHNSON COM 478160104 46560 785812 SH OTHER 01 784482 0 1330
JOHNSON & JOHNSON COM 478160104 43052 726623 SH OTHER 724488 0 2135
JPMORGAN CHASE & CO COM 46625H100 476 10335 SH OTHER 01 10335 0 0
KINDER MORGAN INC DEL COM 49456B101 51721 1744985 SH OTHER 1740220 0 4765
KINDER MORGAN INC DEL COM 49456B101 47930 1617099 SH OTHER 01 1605244 0 11855
KRAFT FOODS INC CL A 50075N104 35658 1137065 SH OTHER 1133845 0 3220
KRAFT FOODS INC CL A 50075N104 29048 926280 SH OTHER 01 922830 0 3450
L-1 IDENTITY SOLUTIONS INC NOTE 3.750% 5/1 50212AAB2 1403 1405000 PRN OTHER 1405000 0 0
L-1 IDENTITY SOLUTIONS INC NOTE 3.750% 5/1 50212AAB2 22668 22696000 PRN OTHER 01 22696000 0 0
LILLY ELI & CO COM 532457108 955 27151 SH SOLE 27151 0 0
LIONS GATE ENTMNT CORP NOTE 2.938%10/1 535919AF1 5741 5755000 PRN OTHER 01 5755000 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 28478 475739 SH OTHER 01 469444 0 6295
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 37663 629177 SH OTHER 626402 0 2775
MEAD JOHNSON NUTRITION CO COM 582839106 145 2495 SH OTHER 2495 0 0
MEAD JOHNSON NUTRITION CO COM 582839106 70 1206 SH OTHER 01 1206 0 0
MEDTRONIC INC COM 585055106 44437 1129285 SH OTHER 1127270 0 2015
MEDTRONIC INC COM 585055106 29696 754670 SH OTHER 01 752465 0 2205
MEDTRONIC INC NOTE 1.500% 4/1 585055AL0 1500 1500000 PRN OTHER 01 1500000 0 0
MENTOR GRAPHICS CORP DEBT 6.250% 3/0 587200AH9 5156 5000000 PRN OTHER 01 5000000 0 0
MERCK & CO INC NEW COM 58933Y105 599 18129 SH OTHER 01 18129 0 0
MICROSOFT CORP COM 594918104 52673 2074546 SH OTHER 2068316 0 6230
MICROSOFT CORP COM 594918104 51394 2024187 SH OTHER 01 2018702 0 5485
NALCO HOLDING COMPANY COM 62985Q101 24618 901423 SH OTHER 898693 0 2730
NALCO HOLDING COMPANY COM 62985Q101 25155 921113 SH OTHER 01 920113 0 1000
NII HLDGS INC NOTE 3.125% 6/1 62913FAJ1 28281 28140000 PRN OTHER 01 28140000 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 38825 371567 SH OTHER 370402 0 1165
OCCIDENTAL PETE CORP DEL COM 674599105 46778 447681 SH OTHER 01 447681 0 0
PENN VA CORP NOTE 4.500%11/1 707882AA4 52 50000 PRN OTHER 50000 0 0
PENN VA CORP NOTE 4.500%11/1 707882AA4 21853 21165000 PRN OTHER 01 21165000 0 0
PEPSICO INC COM 713448108 322 5010 SH OTHER 01 5010 0 0
PROCTER & GAMBLE CO COM 742718109 1922 31201 SH OTHER 30781 0 420
PROCTER & GAMBLE CO COM 742718109 2396 38904 SH OTHER 01 38904 0 0
QUESTAR CORP COM 748356102 44231 2534710 SH OTHER 2528535 0 6175
QUESTAR CORP COM 748356102 40828 2339757 SH OTHER 01 2339277 0 480
REGAL ENTMT GROUP CL A 758766109 35896 2658950 SH OTHER 2651665 0 7285
REGAL ENTMT GROUP CL A 758766109 29777 2205695 SH OTHER 01 2197775 0 7920
REPUBLIC SVCS INC COM 760759100 49166 1636695 SH OTHER 1631878 0 4817
REPUBLIC SVCS INC COM 760759100 46482 1547322 SH OTHER 01 1547322 0 0
SAFEWAY INC COM NEW 786514208 39267 1668105 SH OTHER 1663545 0 4560
SAFEWAY INC COM NEW 786514208 37631 1598589 SH OTHER 01 1591459 0 7130
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 521 18927 SH OTHER 18927 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 129 4665 SH OTHER 01 4665 0 0
SANDISK CORP NOTE 1.000% 5/1 80004CAC5 18153 18500000 PRN OTHER 01 18500000 0 0
SCHOOL SPECIALTY INC SDCV 3.750%11/3 807863AL9 6231 6185000 PRN OTHER 01 6185000 0 0
SMITH & WESSON HLDG CORP NOTE 4.000%12/1 831756AB7 75 75000 PRN OTHER 75000 0 0
SMITH & WESSON HLDG CORP NOTE 4.000%12/1 831756AB7 2065 2055000 PRN OTHER 01 2055000 0 0
SPARTAN STORES INC NOTE 3.375% 5/1 846822AE4 35201 36763000 PRN OTHER 01 36763000 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 38044 1482025 SH OTHER 1477680 0 4345
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 37155 1447420 SH OTHER 01 1447420 0 0
STEWART ENTERPRISES INC NOTE 3.125% 7/1 860370AH8 10905 10665000 PRN OTHER 01 10665000 0 0
SUPERVALU INC NOTE 11/0 868536AP8 7089 18236000 PRN OTHER 01 18236000 0 0
SYMETRA FINL CORP COM 87151Q106 21642 1591325 SH OTHER 1586065 0 5260
SYMETRA FINL CORP COM 87151Q106 26689 1962470 SH OTHER 01 1960610 0 0
TARGA RES CORP COM 87612G101 459 12665 SH OTHER 12665 0 0
TARGA RES CORP COM 87612G101 5284 145815 SH OTHER 01 145815 0 0
TELEFLEX INC COM 879369106 33909 584845 SH OTHER 582995 0 1850
TELEFLEX INC COM 879369106 33252 573512 SH OTHER 01 573512 0 0
TELEFLEX INC NOTE 3.875% 8/0 879369AA4 21005 18650000 PRN OTHER 01 18650000 0 0
THOMPSON CREEK METALS CO INC COM 884768102 188 15000 SH OTHER 01 0 0 15000
TRANSATLANTIC HLDGS INC COM 893521104 54630 1122452 SH OTHER 1119807 0 2645
TRANSATLANTIC HLDGS INC COM 893521104 45609 937107 SH OTHER 01 931940 0 4685
UNILEVER N V N Y SHS NEW 904784709 48699 1552901 SH OTHER 01 1552901 0 0
UNILEVER N V N Y SHS NEW 904784709 42731 1362585 SH OTHER 1357950 0 4635
UNION PAC CORP COM 907818108 295 3000 SH SOLE 3000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 288 3400 SH OTHER 01 3400 0 0
UNITEDHEALTH GROUP INC COM 91324P102 210 4642 SH OTHER 01 0 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 91275 1832467 SH OTHER 1826763 0 5704
VALEANT PHARMACEUTICALS INTL COM 91911K102 89156 1789922 SH OTHER 01 1786971 0 2951
WEBSENSE INC COM 947684106 31171 1357028 SH OTHER 1352313 0 4715
WEBSENSE INC COM 947684106 42537 1851831 SH OTHER 01 1849831 0 2000
WILLIAMS COS INC DEL COM 969457100 53378 1711925 SH OTHER 01 1707140 0 4785
WILLIAMS COS INC DEL COM 969457100 56506 1812265 SH OTHER 1807245 0 5020